HSI -325pts (-1.1%) 30,320 HSCEI -213pts (-1.8%) 11,893 T/O HK$302.58bn (+19.5% DoD) Warrants were 6% of market T/O
EUROPE Market open lower following a mixed Asia and initially sold down but now working higher on good German Ifo data. But investors still harbouring inflation concerns as US T10 hits 1.367%; tech weak but Travel and Leisure seeing some interest on vaccine roll out hopes.Stadler Rail climbed after UBS upgraded the stock to “buy” and raised its price target.G4S very weak after Canada’s GardaWorld said it would not raise its takeover bid for the British security firm.
GERMANY Ifo Data Business Climate Feb 92.4 vs 90.3 Jan revised (F/cast was 91)Current Conditions Feb 90.6 vs 89.2 Jan (F/cast was 88.9)Expectations Feb 92.4 vs 91.5 Jan revised (F/cast was 92)
Opened Dow +50pts, S&P +0.1% and NDX +0.2% but Dow eased backing Asian time to Dow -165pts S&P and NDX both negative.The White House expects to ship out millions of delayed covid vaccine doses this week after a sweeping winter storm disrupted logistics +VE BUT Gov. Andrew Cuomo said on Sunday that a New York resident has tested positive for the Covid-19 variant first identified in South Africa -VE
Data due Chicago Fed National Activity Index, Dallas Fed Manufacturing Index
Earnings: Dish Network, Royal Caribbean, Marathon Oil, Ingersoll-Rand, Occidental Petroleum, Transocean, Zoominfo, ONEOK.
CHINA CSI 300 closed -182pts (-3.1%) @ 5,597
Left Loan Prime rates unchanged at the weekend but announced new lending rules for Ecommerce which will come into effect next year. Also the G7 statement -VE for sentiment on China. China’s foreign minister calls on the US to scrap tariff addend retractions on Chinese Tech as conditions of restoring damaged relations.
CSI 300 opened flat but sold down to 5,680, bounced but then sold down again to the lows at lunchtime. PM dipped lower initially then bounced back to the lunchtime level but unable to break above and then drift downs support at 5,600 level, a small bounce around 2:30pm but unable to hold and sold back down into the close. Significant rotation into cyclicals taking place; Non ferrous metals were limit up.
PBoC liquidity tightening also a concern after the PBoC left the Loan Prime Rate unchanged for the 10th month.
Shanghai Comp -53pts (-1.5%) @ 3,642 T/O Rmb 599.3bn
Shenzhen Comp -486pts (-3%) @ 15,336 T/O Rmb 694.1bn
ChiNext -146pts (-4.5%) @ 3,138 T/O Rmb219.9bn
In 2020, China tracked a total export value of home appliances of US$83.7 billion, up 18% yearly, with the export size staying at the optimal level in the same historic period and growth rate being the highest in nearly a decade, as data from China Household Electrical Appliance Association showed.
Tuesday House Price Index due.
HSI Pre market opened at 31,071 +426pts vs +65pts ADRs.
With strength in Tencent, Meituan and Xiaomi (despite denying EV rumours), Chinese Financials were also strong. But then the market sold down 325 pts in the first 20 minutes to 30,745. Then effectively traded sideways into lunch with Ecommerce names weak, Telcos seeing continued interest despite China Mobile announcing net additions slowing. Resources, Macau (vaccine rollout) and Consumer names also +VE.
Genscript Bio issued a profit warning.
PM market opened lower and selling down; saw some support at 30,460 level for about 40 minutes and then rallied back to Friday’s closing level as China markets closed but then reversed and sold down to the day lows before trading sideways into the close.
Some stocks hitting new highs, especially in the resources names but others seeing equally heavy selling; shows that rotation is taking place out of tech/Ecommerce and into Resources, Financials and Consumer.
I would expect some margin call selling on the open tomorrow.
Results season really getting underway this week which should result in increased news flow in the weeks to come.
HONG KONG DATA
Inflation Rate Jan +1.9% vs -0.7% Dec (F/cast was -0.2%)
The increase in January was mainly due to the low base of comparison resulted from the Government's payment of public housing rentals and waiver of two-thirds of rent for tenants of Group B estates by Hong Kong Housing Society in January last year.
Netting out the effects of all Government's one-off relief measures, the year-on-year rate of change in the Composite CPI (i.e. the underlying inflation rate) in January 2021 was -0.5%, lower than that in December 2020 (0%).
The decrease was mainly due to the decreases in the costs for meals bought away from home and the enlarged decreases in the prices of pork.
Centre for Health Protection said there were 16 new COVID-19 cases in Hong Kong today; (vs 20 Sunday) with 4 from unknown sources.
SHORT SELLING Monday 12.4% vs 13% Friday
Top Shorts: Hengan (1044) 38%, Ping An (2318) 37%, Bud Apac (1876) 33%, CCB (939) 31%, China Res Land (1109) 30%, SHKP (16) 29%, BankComm (3328) 29%, Sands China (1928) 28%, AIA (1299) 27%, CSPC Pharma (1093) 27%, CLP (2) 25% (reported earnings today), Bank of China (3988) 25%.
Earnings due Tuesday HSBC (5), Hang Seng Bank (11), Guoco (53) SmarTone (315), Top Form (333) SJM (880), and others.
AFTER MARKET NEWS
ND PAPER (02689.HK) announced interim result ended December 2020. The revenue rose 7.1% year on year to RMB30.887 billion. The net profit amounted to RMB4.002 billion, up 75.6%. EPS was RMB0.85. Interim dividend per share
of RMB10 cents (approximately HK12 cents) was declared, flattish yearly.
WANT WANT CHINA (00151.HK) announced that it had on 22 February repurchased on-market 6.10 million shares, involving $36.0813 million.
CHINA UNICOM (00762.HK) announced that the aggregate number of 4G subscribers (including 5G subscribers) nearly hit 273 million in January 2021, with a net addition of 2.739 million subscribers. The net addition was 1.123 million subscribers in December 2020.
The People's Bank of China unveiled the financial market operation in January. During the month, China's bond market issued a total of RMB4.3 trillion of various bonds.
According to PBoC's financial market operation for January, the average daily
turnover of Shanghai bourses surged by 32.5% MoM to RMB484.3 billion. The average daily turnover of Shenzhen bourses advanced 34.3% MoM to RMB609.26 billion.
China Passenger Car Association (CPCA) said the market estimated China's narrow-sense PV retail sales volume at 1.19 million units in February, up 377% YoY but down 44.9% MoM.
Chinese State Council wrote in a guidance that Beijing will move up the usage ratio of renewable energy and nudge the development of wind power and photovoltaic power, while exploring hydropower, geothermal energy, ocean energy, hydrogen energy, biomass energy, and solar thermal power generation in accordance with local conditions.
The office rental decline at Grade A buildings eased to only 0.6% MoM in January 2021, down from a 1.1% MoM fall in December 2020 according to JLL's latest report. The office rent was steady in CBDs like Central and Tsim Sha Tsui, yet logging the steepest fall of 1.4% MoM in Wan Chai or Causeway Bay
Worldwide sales volume of smartphones shrank 5% yearly in 4Q20, and 12.5% in FY20, Gartner wrote in a report. During the fourth quarter, Apple reclaimed the top spot with sales volume up 14.9% YoY to 79.943 million units, outrunning Samsung at the second. XIAOMI-W (01810.HK) ranked the third, with sales volume up 33.9% to 43.43 million units.
Beijing Nayuki Food & Beverage Management Co., Ltd., an affiliated company of Nayuki, was put on the abnormal operation list by the State Administration for Market Regulation in Chaoyang, Beijing over concealing corporate information, Chinese media citing Tianyancha. In response, Nayuki said the incident was merely a misunderstanding. The affiliate will soon be removed from the abnormal operation list.
Alibaba's Fresh Hema is broadening the product coverage of RunRunFresh nationwide, Chinese media reported. According to the report, Hema will designate Shanghai as the first pilot city, with a goal to let Shanghai Hema sell various products spanning from vegetables, fruits, meat and poultry, to dairy products, baked goods, seafood and aquatic products, before 1 May.
CHINA LIFE (02628.HK) announced that the accumulated premium income of the Company for January 2021 was about RMB218.9 billion, up 13.1% yearly.
ISDN HOLDINGS (01656.HK) Updated its Positive Profit Alert that the Group expects to record an increase in profit of more than 80% for the FY2020 after offsetting the allowance for impairment.
Hong Kong market turnover at close amounted to HK$302.588 billion, with warrants amounting to HK$18.27 billion, which accounted for 6.04% of the market turnover. Blue chips HK$119.47bn (39.48%) and SOE-shares totaled HK$116.26 billion (38.42%).
*NON-FERROUS METALS STRONG as investors chase cyclical names on the expectation of a commodities rally as the global economy recovers. Rare Earth names continue to see good interest on the basis that China may limit their export. CH RARE EARTH (769 HK +7%) MMG (1208 HK +10%) CHALCO (2600 HK +15%) JIANGXI COPPER (358 HK +16%) ZIJIN MINING (2899 HK +6.6%) ANGANG STEEL (347 HK +11%) MAANSHAN IRON (323 HK +7%).
*CH BANKS STRONG on new rules from China’s banking regulator restricting online lending . ICBC (1398 HK +2.8%) CCB (939 HK +1.8%) BOC (3988 HK +1.1%) ABC (1288 HK +2%).
*E-COMMERCE WEAK on the online lending restrictions Banks must cap overall joint lending with internet platforms or other partners at no more than 50% of their outstanding loans, and co-lending with any one platform can't top 25% of tier-1 net capital, the CBIRC said. ALIBABA (9988 HK -2.5%) ALI HEALTH (241 HK -6.6%) MEITUAN (3690 HK -4.5%) PA GOOD DOC (1833 HK -7.2%) IGG (799 HK -5.7%). TENCENT (700 HK -3.4%) has raised US$8.3b in the biggest offshore syndicated loan in Asia for a Chinese firm since 2016, Bloomberg reports.
*TECH & COMPONENTS WEAK XIAOMI (1810 HK -6%) after denying the rumour it had launched any electric vehicle project. Meanwhile, XIAOMI and Oppo have taken stakes in closely-held chipmaker Jiangsu Changjing Electronics Tech amid a global shortage of semiconductors, news reported. AAC (2018 HK -4.1%) SUNNY OPT (2382 HK -4.4%) SMIC (981 HK -2.9%) HUA HONG (1347 HK -4.7%).
*AUTO MAKERS WEAK Chairman of Zhejiang Geely Holding Group and HK-listed GEELY AUTO said the group will set up a new electric car venture. GREAT WALL (2333 HK -8.5%) BYD (1211 HK -3.9%) GAC (2238 HK-3.1%),
*TELCOS STRONG as investors bet on upbeat 4Q earnings. Sectors also jumped on speculation there may be important 5G news to be announced at the Shanghai Special Telco World Mobile Conference that is held on Feb 23-25. CH MOBILE (941 HK+4.5%) has a total of 941m mobile subscribers at the end of January. CH UNICOM (762 HK +6.3%) CH TEL (728 HK +5%).
*HK PROPERTY STRONG increased in buying interest on easing social distancing and falling local Covid cases. Wheelock Properties received 300 checks for 68 units in the first price list of Grande Monaco in Kai Tak, 3.4 times oversubscribed. Centaline Prop Agency reported 37 secondary transactions at ten blue-chip housing estates over the past weekend, the highest since Jan 2013. HENDERSON LAND (12 HK +2.3%) released the sales brochure of The Hampstead Reach in Tuen Mun today. Landlords also jumped as mall traffic is expected to recover strongly as vaccine rollouts pick up although Govt warns against ‘’retaliatory consumption’ as restrictions are eased. SINO LAND (83 HK +5.3%) SHKP (16 HK +3.7%) CKA (1113 HK +3.2%) NWD (17 HK +4.2%).
Nikkei opened higher @ 30,282 after the G7 meeting which proposed greater co-operation against China. It worked higher in the morning to 30,458 before selling down into lunch. PM opened lower at 30,100 and worked back to 30,300 the opening level which became resistance then drifted lower to close +138pts (+0.5%) @ 30,156
Topix opened higher but traded sideways for most of the morning but sold down into lunch. PM opened lower and traded sideways to close +9pts (+0.5%) @ 1,938
Interesting FT article suggests Japanese retail investors no longer contrarian but now younger, on-line and following momentum.
Initial signs of Foreign buying in Tech but short lived.
Kosdaq opened flat but initially worked better to test 970 but failed to break above and then reversed and has sold down for the rest of the session with a small bounce at the end to close -11pts (-1.1%) @ 954
Kospi traded in a similar patter, morning high was 3,143, then sold down with support at 3,080 to close -28pts (-0.9%) @ 3,080.
Exports for first 20 days +16.7% YoY on strong shipments of chips and autos, according to the data from the Korea Customs Service.
Tomorrow we get Consumer Confidence.
Good GDP growth data released at the weekend and good earnings continue.
Opened higher and tested to 16,580 in early trades before easing back to around 16,450 and traded sideways to close +69pts (+0.4%) @ 16,410
CONNECT FLOWS (significant increase in flows)
Northbound RMB 78,396m Sell 39,444m : 38,952m Buy
Southbound HK$ 45,851m Sell 22,771m : 23,080m Buy
Northbound RMB 84,242m Sell 42,432m : 41,810m Buy
Southbound HK$ 44,486m Sell 19,696m : 24,789m Buy
MEITUAN (03690.HK) -5.5%
TENCENT (00700.HK) -3.7%
BABA (09988.HK) -2.5%
CCB (00939.HK) +1.5%
PING AN (02318.HK) -1.2%
AIA (01299.HK) -0.9%
HKEX (00388.HK) -0.8%
HSI & HSCEI Constituents on Move:
WUXI BIO (02269.HK) -7.9%
HAIDILAO (06862.HK) -7.9%
ALI HEALTH (00241.HK) -7.7%
CHINA UNICOM (00762.HK) +6.3%
CHINA RES BEER (00291.HK) -6.2%
XIAOMI (01810.HK) -5.4%
SMIC (00981.HK) -5.1%
SUNNY OPTICAL (02382.HK) -5.1%
PETROCHINA (00857.HK) +4.9%
ANTA SPORTS (02020.HK) -4.8%
WH GROUP (00288.HK) +4.8%
AAC TECH (02018.HK) -4.7%
CHINA FEIHE (06186.HK) -4.7%
GALAXY ENT (00027.HK) +4.4%
NEW WORLD DEV (00017.HK) +4.3%
SINOPEC CORP (00386.HK) +4%
CITIC (00267.HK) +3.9%
JD HEALTH (06618.HK) -3.9%
NTES (09999.HK) -3.9%
SHK PPT (00016.HK) +3.9%, hitting new high
JD (09618.HK) -3.8%
CM BANK (03968.HK) -3.7%
CHINA MOBILE (00941.HK) +3.5%
GEELY AUTO (00175.HK) -3.1%
MENGNIU DAIRY (02319.HK) -3.1%
CHINA RES GAS (01193.HK) +3%
SINO BIOPHARM (01177.HK) -3%
CPIC (02601.HK) +2%, hitting new high
HSMI & HSSI Constituents on Move:
MCC (01618.HK) +21.1%, hitting new high
CMBC CAPITAL (01141.HK) +16.8%
JIANGXI COPPER (00358.HK) +15.3%, hitting new high
COFCO JOYCOME (01610.HK) +15.3%, hitting new high
CHALCO (02600.HK) +15.1%, hitting new high
ASCENTAGE (06855.HK) -13.7%
XD INC (02400.HK) -13.3%
CHINA COAL (01898.HK) +13.3%, hitting new high
CGN NEW ENERGY (01811.HK) -13.2%
HEC PHARM (01558.HK) +12.8%
GREAT EAGLE H (00041.HK) +12.8%, hitting new high
HENGTEN NET (00136.HK) -12.4%
FUYAO GLASS (03606.HK) -11.9%
PHARMARON (03759.HK) -11.7%
CR HOLDINGS (01911.HK) -11.6%
ANGANG STEEL (00347.HK) +11.5%, hitting new high
XIABUXIABU (00520.HK) -11.3%
MAN WAH HLDGS (01999.HK) -11.2%
MMG (01208.HK) +10.7%, hitting new high
MOBVISTA (01860.HK) -10.4%
ZHUGUANG HOLD (01176.HK) +10.3%
CTIHK (06055.HK) + 10.3%, hitting new high
CMS (00867.HK) -10.3%
MARKET HOURS NEWS
At CLP HOLDINGS (00002.HK)'s online results conference, CFO Geert Herman August Peeters said some of their business areas remain haunted by the pandemic and the group will thus exercise prudence in dividend distribution. Asked if the group will declare special dividend amid the 120th anniversary, CEO Richard Kendall Lancaster replied they are not considering such a move at this moment, yet did not bar the possibility. Under the current landscape, the group will remain financially cautious. Its total electricity sales in Hong Kong dipped 0.9% YoY amid the pandemic last year, with rising residential sales but falling industrial and commercial volume , said Group Director & Vice Chairman Betty Yuen at the annual result briefings. Despite epidemic fallout in 4Q20, CLP tracked similar Hong Kong electricity sales levels in 2M21 as it did before under a stable performance, she added.
Mobike co-founder and chief technology officer Xia Yiping will serve as the CEO of an auto joint venture between Baidu and Geely, according to Baidu's statement. Baidu welcomed Xia's joining the family and looked forward to his new contributions to the carmaker and the auto sector.
HENDERSON LAND (00012.HK) Show homes of "The Hampstead Reach", low-density house project in Yuen Long South, will be open to public this weekend, said Thomas Lam, General Manager of Sales (1) Department of Henderson Property Agency Limited. Lam expected the tender for the project to begin next week.
Twelve major Japanese companies have enacted a policy that will cease their business relationships with Chinese companies found to employ forced labor of the Muslim Uyghur minority in Xinjiang, a Kyodo News investigation showed. Such companies include FAST RETAIL-DRS (06288.HK), Sony and Hitachi.
The Philippines cleared the way for the emergency use of 600,000 doses of the COVID-19 vaccine from Sinovac (SVA.US) before its arrival, foreign media reported. Philippines' food and drug director Eric Domingo said the Sinovac's vaccine effectively prevents the coronavirus. Yet, Sinovac did not recommend medical staff to take the vaccine since its protection rate is only 50.4%.
K. WAH INT'L (00173.HK) announced several upcoming project launch this year, including its wholly-owned project at 2 Grampian Road and joint projects like GRAND VICTORIA. In terms of home prices, the developer modeled an average 5% uptrend in general.
CNOOC (00883.HK) announced a big oil and gas discovery, Bozhong 13-2 in the Bohai Bay. It is located in the southwestern Ring of Bozhong Sag in Bohai Bay, with a water depth of roughly 23.2 meters on average.
A company of CK ASSET (01113.HK) filed a lawsuit against Pan Sutong and his private company. It was known that the case was linked to the right of first refusal regarding the Ho Man Tin Station phase one property development. CK ASSET said the lawsuit was only aimed to alert the related parties to abide by their agreement, believing the incident was merely a misunderstanding. The company will revoke the summon once the case is resolved, which is expected to be in a few days. GOLDIN FIN HOLD (00530.HK) and CK ASSET had in last year purportedly clinched a restructuring agreement, which comprised of granting the latter the right of first refusal regarding the Ho Man Tin Station phase one property development from GOLDIN FIN HOLD's substantial shareholder Pan Sutong.
PERFECT SHAPE (01830.HK) announced that it has repurchased 1.008 million shares at an aggregate consideration of approximately HK$4.475 million.
China Mobile's Shanghai branch and Huawei have jointly completed the deployment of the first 4.9G Lampsite business network in Shanghai, celebrating the first digital indoor 2.6G+4.9G 200M application in the world, said Chinese media.
CLP HOLDINGS (00002.HK) announced annual result ended December 2020. The net profit amounted to HK$11.456 billion, up 146% from 2019 when an impairment of goodwill was booked in the Australian business. It approved a fourth interim dividend payment for 2020 of HK$1.21 per share. Including the first three interim dividends paid, total dividends for 2020 are HK$3.1 per share, being HK2 cents or 0.6% higher than a year ago.
Macau is opening Covid-19 vaccination for all citizens from today (22nd). The city's Health Bureau reported around 2,500 appointments for inoculation. Over 3,000 prioritized persons have been dosed so far, without showing any adverse reaction. GALAXY ENT (00027.HK) and SJM HOLDINGS (00880.HK) rallied on the news
British Prime Minister Boris Johnson said that he is “fervently Sinophile” and that London is seeking to strengthen its economic and trade links with Beijing and to improve their ties “whatever the occasional political difficulties,” cited the Guardian.
China's State Administration for Market Regulation (SAMR) will emphasize the primary food safety responsibilities for online catering service platforms, having frequent meetings with operators like MEITUAN-W (03690.HK) and Ele.me, reported Xinhua Insight. These service providers are required to meet five responsibilities and make five guarantees, including that for scrutiny.
Chief Executive Carrie Lam, together with several secretaries and directors, will in the afternoon get vaccinated at Hong Kong Central Library's Exhibition Gallery and then meet the press, said local media.
Douyin, Chinese version of TikTok, filed an appeal against the ruling on jurisdiction to transfer the unfair competition case concerning TENCENT (00700.HK) from Fuzhou Intermediate People's Court to Shenzhen Intermediate People's Court, reported Chinese media. On 19 February, Fujian Provincial Higher People’s Court agreed to hear the appeal for the case.
Chinese Foreign Minister Wang Yi, at the opening of Lanting Forum on "Promoting Dialogue and Cooperation and Managing Differences: Bringing China-U.S. Relations Back to the Right Track", hoped the United States will revise its policy as soon as possible by forgoing unreasonable tariffs on Chinese products. Equally, Washington shall remove unilateral sanctions on Chinese firms and research and educational institutes, while abandon irrational suppression of Beijing's technological advancement, Wang added
In response to market rumors that HKEX (00388.HK) is studying the listing of special purpose acquisition company (SPAC), the Exchange told Apple Daily that it is from time to time looking at different approaches to upgrade or reform its listing regime.
The coronavirus pandemic brought down global dividends by 12.2% yearly in 2020 to US$1.26 trillion, according to Global Dividend Index from Janus Henderson. The statistics analyzed dividends payment of the 1,200 largest firms in world by market capitalization.
Matthew Cheung, Chief Secretary for Administration, wrote on his blog that he assumed the public will be more willing and confident of taking the COVID-19 vaccine after the first one million doses of Sinovac vaccine had arrived in Hong Kong last Friday. By the end of the month, another million jabs of BioNTech vaccine will also be sent to Hong Kong. Cheung expressed hope that citizens could use LeaveHomeSafe mobile app to keep record of their footprints while going outdoor. As at last Saturday's night, the app has registered over 2.33 million installs.
Britain is urging Monday the United Nations to be given “urgent and unfettered” access to Xinjiang to probe into China's alleged genocide actions.
MAOYAN ENT (01896.HK) announced that as of 16:00 on February 19, the film ‘‘Hi, Mom’’, which it produces and is mainly responsible for distribution, has recorded a box office of over RMB3.3 billion and the total figure will possibly shatter RMB5 billion.
BRIGHT SMART (01428.HK)'s survey found that 95% of interviewees who were retail investors successfully subscribing IPOs harvested gains on the market, whilst 78% said their average investment return from IPOs reached 30% or less.
The five highest-yielding IPOs were JD HEALTH (06618.HK), POP MART (09992.HK), JD-SW (09618.HK), SMOORE INTL (06969.HK) and CHINA RES MIXC (01209.HK).
BRIGHT SMART had conducted a survey on retail investors between the end-December 2020 and the end-January 2021 to explore investors' views on the market outlook, and collected more than 1,800 valid questionnaires.
GALAXY ENT (00027.HK) announced that Galaxy Cotai Project, a wholly owned subsidiary of GEG, entered into a legally binding Letter of Intent with CHINA STATE CON (03311.HK)'s company, being the main contractor, in relation to the provision of construction and related services for GEG’s Cotai Phase 4 Project with contract sum of approximately MOP13.01 billion.
PRE MARKET HOURS NEWS
JOINN (06127.HK), to be listed on 26 February, plans to price its shares at $151 each, the upper limit of the. offer price range $133-151, to raise roughly $6.542 billion, IFR learnt from insiders.
XIAOMI-W (01810.HK) and Oppo bought stake in Jiangsu Changjing Electronics Technology Co., Ltd., a non-listed chipmaker in China, so as to ensure sufficient chip supply under the backdrop of US-China tussle, China's Global Times reported.
Singapore and Hong Kong are having close discussions on reviving their air travel bubble arrangements as the Covid situation seems to get under control in Hong Kong, according to Singaporean media. Both cities are in close talks on air travel bubble, poised to unveil more details when ready, said Daniel Ng, director of air transport at the Civil Aviation Authority of Singapore
HENGTEN NET-NEW (00136.HK) announced that as of 19:00 on February 21, 2021, the film ‘‘Hi, Mom’’, which the Company’s subsidiary Ruyi Films acted as the main producer and the largest guaranteed distributor, has recorded a box office of over RMB4.0 billion since its release 10 days ago.
SF Holding is looking to ramp up the size of syndicated loan to acquire KERRY LOG NET (00636.HK) , Bloomberg citing sources. The Chinese courier service provider had announced to buy roughly 51.5% stakes of KERRY LOG NET at $17.5 billion.
Financial Secretary Paul Chan wrote on his blog that the next Budget is all set after months of efforts and the report is coming this Wednesday. The corresponding measures to economic downturn and the pandemic are pushing the financial deficit this year to a new high, disclosed Chan. While economy is yet to recover, anti-cyclical policies shall stay in place for stabilization purpose, which will possibly lead to deeper deficit next year and hence pose a tougher challenge for the coming budget.
The Secretary for Labour and Welfare Law Chi-kwong on his blog said it is more likely for a higher three-month moving-average unemployment rate in the report next month, hot on the heel of sharp deterioration last December. Hearing voices on the street for provisional jobless claims or fund, Law replied that the Government has to consider if the scheme can be provisional in nature as he is hardly optimistic that the financial hub can get the jobless rate back below 5% in three years, given the remote goal to end the plague.
Roughly 160 new homes were transacted at the weekend, 10.4 times higher weekly according to market sources. Of which, Skypoint Royale from Empire Group and HK FERRY (HOLD) (00050.HK) launched 128 units in the second log and sold 77 of them last Saturday (20th), representing over 60% of the available flats.
As for the second-hand market, Centaline's ten major housing estates tracked 37 deals, up three deals or 11.3 times weekly, hitting a new high since January 2013.
CHINA MOBILE (00941.HK) announced that it had 169 million 5G package customers in January 2021, representing a net addition of 3.968 million monthly, decelerating from the 17.621 million net addition in December 2020.
PING AN (02318.HK) had entered the second round of bidding Tahoe Investment's Tahoe Life Insurance, being favored to win the tender, Apple Daily citing sources. However, PING AN eventually blew the deal as the bidding price (HK$6 billion) was far below Tahoe Life's target price (US$1 billion, equivalent to around HK$7.8 billion).
HSBC HOLDINGS (00005.HK) is pondering on moving certain top executives from London to Hong Kong in the next few months in a bid to beef up its "pivot to Asia" strategy, Bloomberg cited people with the knowledge of the matter. CEO Noel Quinn will announce the move when the annual results are released on Tuesday, the report said. The bank will relocate Nuno Matos, CEO of Wealth and Personal Banking; Greg Guyett, Co-CEO of Global Banking & Markets; and Barry O'Byrne, CEO of Global Commercial Banking, to Hong Kong.
WANKA ONLINE (01762.HK) -0.270 (-15.254%) placed 135 million Shares at the Placing Price of HK$1.45 per Share, a discount of 18.1% to the closing price of HK$1.77 per Share on the last trading day. The net proceeds arising from the Placing are estimated to be HK$189 million.
XIAOMI-W (01810.HK) announced that the Group noticed certain media articles regarding the Group’s potential plans to enter into the electric vehicle manufacturing business. The Group has been paying attention to the developments in the electric vehicle industry, and has continuously studied the relevant industry trends. The Group has not initiated any formal project regarding the study of electric vehicle manufacturing business. Shareholders and prospective investors are advised to exercise caution when dealing in the shares and other securities of the Company.
The Supreme People’s Procuratorate (SPP) said the packaging materials of online takeaway food failed to comply with regulations, Securities Times citing Hu Weilie, Director of the 8th Prosecutor’s Office of SPP. The SPP will hence prioritize the supervision of food safety issues like "online celebrity endorsement" and "live delivery of goods", while strictly abiding by law on handling relevant violations to protect consumers' legal rights.
Zhejiang Geely Holding Group Chairman Li Shufu said the group had formulated two “Blue Geely Initiatives” based on track record, including a focus on energy-efficient and NEV cars. Another priority would be pure electric vehicles, where Geely aims to build a new pure EV company and face the smart pure EV market competition head-on, he added.
GENSCRIPT BIO (01548.HK) issued a profit warning. The Group is expected to record a loss of US$270 million to US$306 million for the year ended 31 December 2020, as compared to a loss of US$118 million in 2019.
AIR CHINA (00753.HK) -0.280 (-4.341%) announced that the number of Passengers carried hit 4.4295 million in January, down 51.8% YoY. Total Cargo and Mail carried hit 99,400 tonnes, down 10.4% YoY.